Babcock confident of strong progress

FTSE 100 engineering support services company, Babcock said it has traded well in the interim period from October to date and remains confident of meeting expectations for the year.

FTSE 100 engineering support services company, Babcock said it has traded well in the interim period from October to date and remains confident of meeting expectations for the year.

The group added that market conditions remain positive, with bidding activity high across the group, making it confident of delivering strong progress on last year.

Advertisement - Article continues below

The Marine and Technology division performed in line with its expectations as did Defence and Security.

The Support Services division also performed in line with company expectations, with contracts won in the period totalling in excess of £100m.

Its International division did well, despite the extended holiday period in South Africa over December, with good demand for equipment and plant hire.

The order book stands at just over £12bn from around £12.5bn at the time of its half year results in November 2012.

"Babcock remains well positioned to help our customers develop cost efficient support solutions and we believe the current economic climate will continue to create significant medium and long-term growth opportunities, both in the UK and overseas," it said in a statement.

"The scale of our order book continues to provide excellent visibility of future revenue streams across the group. This position is further strengthened by the medium to long-term growth opportunities which continue to flow into tracking and then into the bid pipeline."




Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular


These seven charts show exactly why you must own gold today

Covid-19 is accelerating many trends that were already in existence. The rising gold price is one such trend. These seven charts, says Dominic Frisby,…
3 Jun 2020

Disease, rioting and mass unemployment – so why are markets soaring?

Despite some pretty strong headwinds in the last year, America’s S&P 500 stock index is close to all-time highs. John Stepek explains why markets seem…
4 Jun 2020
EU Economy

Why a stronger euro is good news for investors

The fragile state of the eurozone has for a long time brought the threat of deflation. But the ECB’s latest moves have dampened those fears. John Step…
5 Jun 2020